Blockchain Asset Transfer via Smart Contract Locking
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Solution Overview
Problem
Transactions of the same asset often fail due to involvement in multiple transactions, which existing blockchain-based asset transfer methods are unable to effectively manage.
Innovation Solution
A method and system that utilize smart contracts on a blockchain to lock assets, send information to a trading platform to determine the second user, and perform transfer processing based on confirmation information, ensuring that assets are transferred successfully and avoiding multiple transaction failures.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Device complexity
If multiple transactions are involved in asset transfer, then the trading process becomes more complex, but the transaction reliability decreases due to potential failures
Solution Approach 1:
The patent applies preliminary action by locking the asset before the trading process begins. The smart contract locks the asset in advance, ensuring that no other transactions can be executed on this asset during the trading process. This preliminary locking action prevents transaction conflicts and ensures reliability even when multiple transactions are involved.
Solution Approach 2:
The patent uses a smart contract as an intermediary between the asset and the trading process. The smart contract acts as a mediator that manages the asset locking and unlocking mechanisms, coordinating multiple transactions and ensuring that the asset is transferred reliably without direct conflicts between different transaction participants.
2Reliability
If asset locking is implemented to prevent multiple transactions, then transaction reliability improves, but the device complexity increases due to smart contract involvement
Solution Approach 1:
The smart contract performs self-service by automatically executing the locking and unlocking operations based on predefined conditions. The contract self-manages the asset state without requiring manual intervention, reducing the operational complexity while maintaining the reliability benefits of asset locking.
Solution Approach 2:
The patent utilizes parameter changes by modifying the asset state from unlocked to locked through smart contract execution. This parameter change (locking status) simplifies the system logic by providing a clear binary state management, reducing complexity compared to managing multiple transaction coordinates manually.
Data Source
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AI summary
Embodiments of the present specification provide methods, apparatuses, devices, and systems for asset transfer. The method includes the following: a blockchain node receives an asset transfer request sent by a first client device; invoking a first smart contract in a blockchain, and locking a to-be-transferred asset based on the first smart contract and asset transfer information included in the asset transfer request; sending asset information of the to-be-transferred asset to a designated trading platform, so that the trading platform determines, based on the asset information, a second user who trades with a first user; obtaining asset transfer confirmation information from the first client device, and performing transfer processing on the locked to-be-transferred asset based on the asset transfer confirmation information, so as to transfer the to-be-transferred asset to the second user, where the asset transfer confirmation information includes information about the second user.